**Hong Kong's Crypto Rollercoaster: Regulation, Innovation, and a Dash of Humor**

- Hong Kong’s First Digital Trust urges the city to speed up digital asset regulations, warning it might miss the crypto train if it doesn’t. 🚂

- Currently, only Hash Blockchain and OSL Digital Securities hold full licenses. Many others are still in the waiting room.

- CEO Vincent Chok says, “We get it, Hong Kong’s cautious. But let’s not be the tortoise in this race!”

- Unlicensed trading platforms are now illegal, and the SFC has an “alert list” for suspicious entities.

- Chok believes Hong Kong isn’t ready for USD-backed stablecoin regulation, unlike Dubai.

- Jingdong Coinlink plans to launch a stablecoin pegged to the HKD.

- Banks aren’t rushing into crypto custody services, but companies with trust structures are stepping up.

- Hong Kong shines in Web3 integration, with innovative ETF mechanisms and Project Ensemble exploring tokenized assets and interbank settlements.

Stay tuned as Hong Kong navigates the crypto cosmos!